Some questions appeared quite often, so here is the summary of their answers.
What are side hustles?
Side hustling is a way to make money on the side while doing your regular job. This can include having a small business, offering services of any kind, selling stuff online and more.
This doesn’t mean that your side hustle or side job can’t overgrow your main job. Like any business, it can grow and expand if done correctly.
Are side hustles illegal?
Side hustles themselves are not illegal, BUT there are some things that might make them illegal.
First, look into your contract. Your employer should not be affecting the time you have outside your job, but that doesn’t stop them from putting it in.
Second, make sure you do your taxes correctly. If you are making money, you need to tax them. Don’t be scared of it. Oftentimes it is pretty simple. Just look into it. Tax fraud is not a joke.
Third, you might be in a country that does not allow this. This is highly unlikely as most countries like small businesses to thrive, but I can’t cover every country in the world to know for sure.
Are side hustles taxable?
Every time you create a transaction, in other words selling a service or a product, you need to tax it. I don’t know of a country where you don’t have to. There might be exemptions though, so check with your local finance office. They will know.
Do i need a side hustle?
Side hustles are not something most people need, but something people want. You might be in a situation where you need one, but if you are asking this, then you probably already know the answer. Just look at your financial situation. If you feel like it could use some help, it’s time to start thinking of one.
What can my side hustle be?
You can always make money out of what you enjoy or know. Skill or passion is always a great way to start. If you have a hobby of any kind or too much knowledge about any topic that you could share, you can make money out of it! I wrote an article about this if you are interested in some ideas.
What is passive income?
Passive income is a way to earn money. Active income is when you get your money for the time worked. Passive income, on the other hand, generates money over time, even when you sleep, independent on your input after the initial setup. This setup though might be very difficult or even cost money, so keep that in mind.
Is passive income real?
Yes, but it is not easy. If it would be, everyone would do it. Passive income is pretty much an investment. You invest your time or money and later reap the benefits. That is if done correctly. Again, it is not an easy thing. Every passive income needs a lot of research and most importantly, a lot of time. If anyone promises you an overnight success, it’s most probably a scam.
Can blogging make money?
Yes. But, it is a long process and takes a lot of time investment. The most profitable blogs you see are blogs that have been here for several months or, most probably, years. That doesn’t mean your small blog can’t be profitable. It is a nice side income. Just learn about marketing and most importantly, make it about something you enjoy.
If you want to make a blog solely to make money, I recommend starting a review blog and signing for Amazon Affiliate program. Then you get 10% from every single time someone buys the product from your link. If you make a post about a product every day in your niche, you are bound to make money.
How do blogging sites make money?
Blogging websites make money by pretty much advertising. They can either have google ads on their site or they can join in an affiliate program with a company they like (or one that pays a lot of money) and then recommend it to their readers. If the reader then signs up to the service or buys a product through that link, the blogger gets a commission.
You can see this nowadays on YouTube as well. Every time someone tells you to use a product in a sponsored segment, they get a commission.
Also, don’t worry about being misled. A lot of the sites (like mine) make it clear the links are sponsored so you can make your own decision about supporting them.
US sites are required by law to use disclaimers about every affiliate link they use. If you are not from US, check your country’s law. It might help you avoid being sued.
There are other ways as well, but these two are the most common.
Does blogging cost money?
There is some investment that has to be made to create your blog work. You need to buy your domain name and you need hosting. Other investment might be for advertising, but that is optional. Otherwise, running your blog is pretty much free apart from those.
One exception I can think of is a review blog, where you buy products to review (before companies send you stuff for free).
Are blogging courses worth it?
This is up to you. I’m shooting myself in the foot here a bit since I could make my own paid course, but the reality is that they are not. Unless they are personalized, you can find all the information online. The hardest part is to stick with it. I wrote a series on how to start your own blog if you are interested.